Daily Gold & Silver Market Report – 2/11/2015
Brandi Brundidge
2/11/2015 12:47:00 PM
GOLD BACK ON GREEK UNCERTAINTY; U.S. HOUSING UNDERPERFORMING
Gold fell back a bit Wednesday ahead of a meeting with finance ministers to deliberate Greece’s future in the eurozone. The news lifted the U.S. dollar, but worried financial markets. Natixis analyst Bernard Dahdah said, “There has been some retail demand driven by the situation in Europe from the end of December. That said, prices are flat and people are possibly not expecting a breakthrough from this week's meetings. The big story for Gold is going to be the interest rates in the U.S. and the hawkishness of some [U.S. Federal Reserve] officials.”
The amount of home purchase applications in the U.S. dropped for the fourth straight month last week, catching the attention of analysts watching the housing markets as the employment rate continues to soar. “What we find is that many of America's fastest growing careers (in terms of numbers of workers) have average or below average homeownership rates,” Freddie Mac Deputy Chief Economist Leonard Kiefer said. “At the same time, the professions with higher homeownership rates are generally headed for average or subpar growth.” Interest rates are still at historical lows, with a 30-year fixed loan remaining below four percent.
At 1:46 p.m. (ET), the APMEX Precious Metals spot prices were:
- Gold, $1,221.80 Down $12.90
- Silver, $16.86 Down $0.10
- Platinum, $1,194.60 Down $12.70
- Palladium, $768.30 Up $1.60
APMEX’s Account Managers now have extended hours Mondays through Thursdays and are here to serve you until 8 p.m. (EDT)! Or call us Fridays until 6 p.m. (EDT)! If you have any questions about investing in Precious Metals or simply would prefer to place your order by telephone, we are here to help.
APMEX Market Reports provide our readers with a review of spot price activity and some of the factors that may be affecting the market for Precious Metals. While the information is obtained from sources we believe to be reliable, we do not guarantee its accuracy or its completeness and we encourage you to conduct your own investigation prior to making any decision based on the information. The Market Reports are not intended as a comprehensive discussion and there may be other factors affecting the financial marketplace. These Market Reports are provided for informational purposes only and do not constitute a recommendation by APMEX to hold, purchase or sell any Precious Metal product. All orders, purchases and sales, if any, are subject to the terms of the User Agreement and other applicable policies
